Jio Platforms Debuts on NSE with $137 Billion Market Capitalization
Jio Platforms has successfully listed on the National Stock Exchange (NSE), debuting at a 25% premium to its IPO price. The listing brings Jio's market capitalization to approximately $137.1 billion, making it the second most valued company in India and placing it in the same valuation league as global telecom giants AT&T and Verizon Communications. Reliance Industries maintains a controlling stake of over 64% in the digital services firm. The capital raised from the IPO is expected to significantly improve Jio's free cash flow by repaying legacy telecom debt, especially as the company's 5G investment cycle begins to decelerate. While analysts note that much of the company's quality may already be priced in at a P/E ratio of 34x, future growth is expected to be driven by artificial intelligence, cloud services, and satellite communications. The successful listing also elevates the total market value of the Ambani-led Reliance Group above the Tata Group.
Topics: IPO Jio Platforms Reliance Industries Stock Market Debut Telecommunications